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Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent.) Stenback Recliners Flexible Budget i Data Table - X Budget Amounts per Unit Static Budget Actual Results (1,000 recliners) (980 recliners) Actual Units (Recliners) 980 Sales (1,000 recliners x $495 each) $ 495,000 Sales Revenue 495 485100 (980 recliners x $495 each) $ 485, 100 Variable Manufacturing Costs: Variable Manufacturing Costs: Direct Materials 51156 Direct Materials (6,000 yds. @ $8.70 / yd.) 52,200 Direct Labor 107800 (6, 143 yds. @ $8.50 / yd.) 52,216 Variable Overhead 29400 Direct Labor (10,000 DLHr @ $11.00 / DLHr) 110,000 Fixed Manufacturing Costs: 107,520 Fixed Overhead 60000 (9,600 DLHr @ $11.20 / DLHr) Variable Overhead (6,000 yds. @ $5.00 / yd.) 30,000 Total Cost of Goods Sold (6, 143 yds. @ $6.40 / yd.) 39,315 Gross Profit 236744 Fixed Manufacturing Costs: Requirement 2. Compute the cost variance and the efficiency variance for Fixed Overhead 60,000 62,000 fic fixed overhead cost, and fixed overhead volume variances. Round to the nea Total Cost of Goods Sold 252,200 261,051 Begin with the cost variances. Select the required formulas, compute the c $ 242,800 $ 224,049 pu answers to the nearest whole dollar. Abbreviations used: AC = actual cost; Gross Profit Formula